Adapting to the Hybrid

Quote from Trader1626:

Scalper007, I agree with you in that the HYBRID is a complete joke, today with airline news effecting continental ( CAL ) and yesterday with NUE and X off the lowered guidance. I don't see any real benefit at all. The open book and level 2 is complete mess whenever the volume and volatility picks up. Specialist is still holding orders, spreading it up and giving u a backfill down at the the previous levels. Position trading would not be impacted as much, but scalping and momentum trading is down the toilet. With the nose and garbage finding a good level and decent entry is crap even for a position trade. Does anyone see the nonsense they claim with instant fills. How many times can a fake size offer or bid hit the open book, to draw in intraday traders and then be pulled out and have the opposite side flood the book with orders? If is hybird wouldn't any of those opposing orders have been swiped up. I apologize inadvance for this rant, but the blatant BS is just too much. LIke someone said in the post previously, too bad the daytraders have no lobbying power, to even put up a complaint against this garbage. It would be great if all the traders just boycott the NYSE and use ECNS or just pack their bags and goto the NASDAQ, and have the specialist duke it out with goldman and their black boxes. Sorry again, I just had to spit that out.
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I agree very much
 
Several of the stocks I play went hybrid yesterday and today. They are all thinly traded. All I have to say is these things will rip your head off if you are not careful. A mis-timed market order will print you a point or more above the last price. Been seeing it all morning long.

Seems like this hybrid will add to volatility. LAB and VDM are cheap right now. I'm suspecting that in conjunction w/ all their layoffs this will be very good for them. Think there is any truth to this mickey mouse analysis?
 
there seems to be some ecn crosses out there if your quick enough. yesterday Right before the close ---in MO....someone swipe sold from .71 to .46 and there were isld's out there to be hit.
 
money was falling from the sky this morning...but apparantly nyse was having some issues on the floor, my quotes, fills, orders were just all locked up...
if not .... it was $$$ time....
was anyone else having these problems?? The delays felt like the specialist was back on some of my stocks.... slowing the shit down, hopefully it was just some floor issue, and not the specialists finidng a way to get back into the game... cause i want to trade pure hybrid!!!
 
Quote from livingston1:

money was falling from the sky this morning...but apparantly nyse was having some issues on the floor, my quotes, fills, orders were just all locked up...
if not .... it was $$$ time....
was anyone else having these problems?? The delays felt like the specialist was back on some of my stocks.... slowing the shit down, hopefully it was just some floor issue, and not the specialists finidng a way to get back into the game... cause i want to trade pure hybrid!!!
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nyse had some major issues this morning... I had dot orders crossing the market by 10 cents that wouldn't fill (these are on hybrid stocks too...) I'd hit cancel after waiting a few minutes and then I'd have to wait a couple minutes for a cancel... then I'd just route elsewhere...

- mnx
 
I reaize those stocks went hybrid, but they still retain the specialist nonsense. There is no need for a human facilitator in a electronic market. To have any human being provide a fair and orderly market is a joke.
 
Alright guys, listen carefully.

The reason why market orders work on nasdaq is because of black-box dealers. They're not nearly as prevalent on NYS, and there's no hidden orders (except for specialist algo and floor brokers, who KNOW that they're the only liquidity other than the book and WILL take advantage of that). In essence, what you see is what you get (and even less sometimes).

If you want to take liquidity, you need to use limit orders until theres more liquidity in the book.
 
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